According to the Star-Telegram, the small business credit card lender Advanta Corp. has filed for Chapter 11 bankruptcy protection.  The bankruptcy filing comes five months after the company announced that it was shutting down its credit card lending business in an effort to preserve cash as its loan losses increased.
The article said:
“[Advanta Corp.] said it [...]

According to an article in the Star-Telegram, Margaux Development has filed for Chapter 11 bankruptcy in an attempt to reorganize its real estate partnerships, including Margaux Westover Partners which owns the 35-acre Margaux Westover Village at the southeast corner of Green Oaks Road and Texas 183. In its bankruptcy filing, Margaux Westover Partners lists its [...]

According to an article in the Star-Telegram, CIT Group, Inc. is battling to avoid filing Chapter 11 bankruptcy–again, as it struggles to survive the credit crunch and economic crisis.  The commercial lender is attempting to finalize a deal that would cut its debt by as much as 40 percent while giving its bondholders a large [...]

The news headlines are filled with stories about big corporations filing for Chapter 11 bankruptcy, but what about filing Chapter 7 bankruptcy for business?  Are there any benefits in filing a Chapter 7 bankruptcy for your business?  Well, maybe, let’s take a look:
If a business owner wants to completely close his/her business and liquidate its [...]

According to an article in Reuters, the U.S. House of Representatives approved legislation last week that would cut major banks and student loan giant Sallie Mae out of a large slice of the $92 billion university student loan business if passed by the Senate.  Under the bill H.R. 3221 –the Student Aid and Fiscal [...]

There’s an interesting article in the Star-Telegram about the increase in the number of peer-to-peer loans for college students.  The author cites a contraction of student loan lending and restrictions on credit card lending to students as a major factor contributing to the uptick in the number of peer-to-peer loans amongst college students.
The article [...]

According to an article in the Dallas Business Journal, movie and video game retailer Blockbuster Inc. as announced that it plans to close as many as 960 stores by the end of 2010, prompting some analysts to suspect a future Chapter 11 bankruptcy filing by the retailer.
The article said:
“Earlier in the year, Blockbuster denied [...]

According to an article in Reuters, many U.S. companies in the airline, automobile, television and publishing industries are about four times more likely to file for Chapter 11 bankruptcy in the next year than companies in other industries, according to a study by Audit Integrity.
The article said:
“Among companies with more than $1 billion in [...]

According to an article in the LATimes, Downey Regional Medical Center filed for Chapter 11 bankruptcy, stating that it would use bankruptcy to get out of “money-losing” HMO contracts.
They article said:
“The private, not-for-profit, 199-bed hospital said that it expected to emerge from bankruptcy within a year and that all services would remain [...]

According to the Business Journal, Frontier Airlines won approval for their Chapter 11 bankruptcy reorganization plan.  The airline filed for Chapter 11 bankruptcy in April 2008 after its primary credit card processor First Data Corp failed to release money earned from the sales of tickets to customers, which threatened Frontier’s liquidity.
The article said:
“This is [...]

Lawmakers concerned that change is not fast enough for the crisis.
The foreclosure crisis is still wreaking havoc on communities.  The Star Telegram published updated foreclosure statistics this week.  The article noted the highs and lows, stating that, “Residential foreclosure postings for the August Tarrant County auction are down significantly from the July 7 auction, but [...]

As more credit card consumers face job losses, many credit card companies are encouraging credit cardholders to buy involuntary unemployment credit card (IUCC) insurance which will make your credit card payments while you’re unemployed.  Sounds like a sweet deal; but what are the true costs?
Credit card consumers who buy involuntary unemployment credit card (IUCC) insurance [...]